Equity Residential (EQR) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 28, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.29

Last Year’s EPS

0.67

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 15 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 05, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presented a cautiously optimistic outlook. Management emphasized strong portfolio fundamentals—high occupancy (96.4%), record-low resident turnover, and outsized contributions from San Francisco and New York (≈30% of NOI)—alongside active capital allocation (>$300M buybacks in 2025 and $1.3B returned to shareholders). They provided constructive 2026 guidance (FFO/share midpoint +2.25%, blended rent growth 1.5%–3%) and a favorable supply backdrop (deliveries down ≈35% in 2026). Counterbalancing this were notable near-term challenges: late‑2025 deceleration in rent momentum, negative new-lease rates across most markets, pressure from high supply in expansion/Sunbelt markets, modest other-income misses, and interest/expense headwinds. Management is focused on selective development, dispositions of lower-return assets, and further automation to drive efficiency. Overall, the positives (occupancy, market concentration in strong markets, buybacks, cost control and supply improvement) outweigh the near-term headwinds, leaving a constructive but cautious tone for 2026.

Company Guidance

Equity Residential's 2026 guidance assumes a well‑occupied portfolio (portfolio-wide >96%, targeted to run ~96.4% with ~97% in some key markets) and blended same‑store rent growth of 1.5%–3% (midpoint reflecting a continuation of H2‑2025 demand), backed by an embedded 60 bps of revenue growth (including ~20 bps dilution from ~5,000 expansion units) and roughly +40 bps from other income (about a 10 bps bad‑debt improvement plus bulk‑internet growth). Management expects achieved renewal rates to stay near 4.5% (quotes ≈6%, >60% renewal take), a starting gain‑to‑lease of ~1.2%, historically low turnover, and only 7.4% of move‑outs due to home purchases. On costs, same‑store expense growth is guided to 3%–4% (midpoint ~20 bps lower than 2025), utilities to again outpace inflation (but less than the ~8% last year), bulk WiFi rollout (adding 64 properties to the 113 stood up in 2025) will add ~$6.8M (≈70 bps) to total expenses while contributing ~$6M to NOI in 2026 and ~$10M by end‑2027, and payroll—already a 1.1% 5‑year CAGR—should see another 5%–10% on‑site reduction over several years. Normalized FFO/share is bridged from $3.99 in 2025 to a $4.08 midpoint in 2026 (+2.25%) (consolidated lease‑ups +$0.06, other +$0.01), with interest expense a ~$0.05 headwind, transaction activity expected to be neutral to NFFO (reflecting $500M net sales in 2025, $300M repurchased and an assumed additional $200M buyback), year‑end net debt/normalized EBITDAre of 4.3x, and assumed debt issuance of $500M–$1B to refinance a $500M 2.85% note (Nov‑2026) and a $92M stub (Aug).

High Portfolio Occupancy

Portfolio physical occupancy of 96.4% in Q4 2025 (portfolio-wide >96%, ~97% in key markets), driven by strong demand, high retention and fewer lease expirations, supporting revenue stability.

Historic Low Resident Turnover and Homebuying Exit Rate

Lowest reported resident turnover for both the fourth quarter and full year in company history; only 7.4% of residents cited 'bought home' as reason for move-out in 2025 (lowest on record), reducing churn-related costs.

Strong Performance in San Francisco and New York

San Francisco and New York were notable bright spots and expected to continue strong results in 2026; together they represent ~30% of NOI and have the best supply/demand outlooks, contributing disproportionate earnings power.

Capital Returned to Shareholders

Company repurchased ~$206M of stock in Q4 and $300M total in 2025; returned over $1.3B to shareholders in 2025 through dividends and repurchases; plans to use disposition proceeds to fund additional buybacks (assumed $200M in H1 2026).

Active Portfolio Rebalancing to Improve Forward Growth

Disposition strategy focused on older/non-core assets with higher CapEx and lower forward return profiles (2025 net sales proceeds $500M) to fund buybacks and improve forward growth and return profile.

2026 Revenue and FFO Guidance with Modest Improvement

2026 normalized FFO per share midpoint of $4.08, up from $3.99 in 2025 (+2.25%); guidance assumes blended rate growth between 1.5% and 3% for 2026 with a 60 basis point embedded growth at the start of the year.

Material Reduction in New Supply Expected

Company tracking shows competitive new deliveries down ~35% (or ~40,000 units) in 2026 vs 2025 and light 2026 starts, creating a favorable supply setup that should reduce supply pressure into 2027.

Operating Efficiency and Technology Initiatives

First-generation centralization/automation initiatives delivered a 15% reduction in on-site payroll (reflected in 1.1% 5-year CAGR in same-store payroll); management expects an additional 5%–10% on-site payroll reduction over next several years via further automation and AI-enabled apps.

Equity Residential (EQR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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EQR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 28, 2026	2026 (Q1)	0.29 / -	0.67	―	―	―
Feb 05, 2026	2025 (Q4)	0.38 / 1.00	1.1	-9.09% (-0.10)
Sep 30, 2025	2025 (Q3)	0.43 / 0.76	0.38	100.00% (+0.38)	―	―
Jun 30, 2025	2025 (Q2)	0.34 / 0.50	0.47	6.38% (+0.03)	―	―
Apr 29, 2025	2025 (Q1)	0.26 / 0.67	0.77	-12.99% (-0.10)	―
Feb 03, 2025	2024 (Q4)	0.41 / 1.10	0.82	34.15% (+0.28)
Oct 30, 2024	2024 (Q3)	0.41 / 0.38	0.45	-15.56% (-0.07)
Jul 29, 2024	2024 (Q2)	0.38 / 0.47	0.37	27.03% (+0.10)
Apr 23, 2024	2024 (Q1)	0.33 / 0.77	0.56	37.50% (+0.21)	―
Jan 30, 2024	2023 (Q4)	0.43 / 0.82	0.42	95.24% (+0.40)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

EQR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 05, 2026	$61.77	$63.89	+3.43%
Sep 30, 2025	$64.02	$63.40	-0.97%
Jun 30, 2025	$66.04	$65.81	-0.34%
Apr 29, 2025	$67.35	$68.06	+1.05%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Equity Residential (EQR) report earnings?

Equity Residential (EQR) is schdueled to report earning on Apr 28, 2026, After Close (Confirmed).

What is Equity Residential (EQR) earnings time?

Equity Residential (EQR) earnings time is at Apr 28, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is EQR EPS forecast?

EQR EPS forecast for the fiscal quarter 2026 (Q1) is 0.29.